View more on these topics

Halifax offer FTBs leg up onto the property ladder

First-time buyers are being given a lifeline by a deposit doubling scheme from Halifax and Persimmon Homes.

The ‘Double your Deposit’ scheme offers first-time buyers the opportunity to double their savings, which they can then use as the deposit for a new first home.

This is achieved by the first-timers making regular deposits into a savings account, with either Halifax or Bank of Scotland, for a minimum of six months, with an upper limit of £5,000. If the savings are used as a deposit on a brand new Persimmon home, Persimmon will match the savings.

For example, if at least £5,000 is saved after a minimum of six months, Persimmon will double this to £10,000.

Persimmon Homes’ group development director David Bryant, says: “This scheme is designed for any first-time buyer, from students moving through further education, to people in their 20s and even 30s who have been unable to buy a home.

“Not only will the ‘Double your deposit’ scheme allow more people to be able to afford a deposit for a new home, it actually encourages young people to save instead of spend. Halifax have experience in helping this purchaser group onto the ladder, which is the ultimate aim of our campaign.”

Halifax national new build manager Mike Bottomley says: “This is a great deal for first-time buyers. By saving regularly with us potential home owners are planning for the financial commitment of buying their first home. Doubling their deposit in this way should be a major incentive for first time buyers.”

Recommended

HMRC moves to quell tax fears on CAR

HM Revenue & Customs has confirmed that it does not expect advice fees taken out of a pension contract to attract tax penalties if customer-agreed remuneration is introduced.

Defence mechanism

I am a moderator on a couple of internet forums. The job generally involves making sure that people behave when responding to each other’s comments and observe the rules of that internet community.

Pension - thumbnail

David Cameron appoints former adviser to Tony Blair as new pensions minister

Following a cabinet reshuffle in light of last week’s general election, David Cameron has announced that Ros Altmann will be replacing Steve Webb as pensions minister. As the industry works with one of the largest reforms to the sector in almost a century, the former adviser to Tony Blair has been tasked with ensuring that the pensions revolution does not stray off track.

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment

    Close

    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm

    Email: customerservices@moneymarketing.com